Stocks Lower into Final Hour as Energy Prices Rise

BOTTOM LINE: The Portfolio is lower into the final hour on losses in my Semi longs, Networking longs and Energy-related shorts. I added to my IWM and QQQQ shorts today, thus leaving the Portfolio 50% net long. The tone of the market is negative as the advance/decline line is lower, sector performance is mostly negative and volume is above average. The fact that commodity and cyclical stock price gains are accelerating into likely weaker economic data is raising the odds of a market pullback, rather than further consolidation. I believe those buying these securities are looking at the past, not the future. I expect US stocks to trade mixed-to-lower into the close from current levels on worries over higher energy prices.